World's tallest residential building Princess Tower in Dubai

World tallest residential building Princess Tower in Dubai

Within a few metres of each other in Dubai Marina, stand the world’s three tallest residential towers.

A fourth is in the same area, but a few hundred metres away.

The 107-storey, 414-meter Princess Tower currently holds the title of world’s tallest residential tower in the Council on Tall Buildings and Urban Habitat rankings.

                                                           Princess Tower pictures

In less than a year from now, Dubai will be home to the top four tallest residential towers in the world.

The list compiled by the Council for Tall Buildings and Urban Habit currently puts The Torch (348 metres) in Dubai at the top position.

                                                           Images of Princess Tower 

Q1 Tower, off Gold Coast, Australia, at 323 metres comes in second, while HHHR Tower in Dubai at 318 metres takes the third place. As of today, the list has six towers from Dubai.

All that will change by January 2012 when Tameer Holding, a property development company,  commences handover of Princess Tower and Elite Residence in Dubai Marina.

                                                 World tallest residential tower

The 414-metre Princess Tower will then take the top position, followed by 395-metre 23 Marina by Hircon International and 381-metre Elite Residence.

The Torch, developed by Select Group, will then be ranked fourth.
By end of 2013, The Pentominium from Trident International Holdings will take over the top slot, standing 516 metres high.

All the towers will be located in Dubai Marina, a few hundred metres away from each other.

Tameer, in a statement emailed to Emirates 24|7, said: “Princess Tower with its 100 floors above ground and 763 apartments is currently under construction and when completed will reach 414 metres. Handover is expected to start in January 2012. By that time, Princess Tower will be the tallest completed residential tower.

Similarly, Elite Residence will reach 380 metres when completed and handover is expected to start in the same month.”

On May 1, this website revealed that Hircon, a Dubai- based developer, will commence handover of 23 Marina, a 395-metre tower, from August.

“We have got the utility connections… we will have temporary power connection by next week. Snagging notice has been send to investors and we expect residents to move into the apartments by August,” company’s Director Darshan Hiranandani said.

Rahail Aslam, CEO of Select Group, has said they are gearing up to hand over the property to investors in May 2011.

Wazir Ali Daredia, Executive Director & CEO of Trident International confirmed to this website that the Pentominium will be completed by end of 2013 and will be 516 metres high.

List of World tallest residential tower:-

Princess Tower
Handover: January 2012
Height: 414 metres

23 Marina
Handover: August 2011
Height: 395 metres

Elite Residence
Handover: January 20121
Height: 381 metres

The Torch
Handover: May 2011
Height: 348 metres
 
The Pentominium
Handover: End of 2013
Height : 516 metres

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World's tallest residential building(tower) - Lodha Developers Mumbai,India

MUMBAI: Real estate firm Lodha Developers will invest Rs 2,000 crore to develop the world’s tallest residential tower in Mumbai to cash in on the continued surge in home prices in India’s commercial capital.

“We will fund the project through internal accruals and pre-launch sales,” MD Abhishek Lodha told a press conference. “We are also looking at some private equity investments for the project.”

Although he declined to disclose details of the PE investments, sources said Lodha has initiated discussions with leading Singapore funds GIC and Temasek, and a property fund of mortgage giant HDFC to raise over Rs 1,000 crore.

                 World's tallest residential building Picture
Lodha Developers will start bookings by the end of this month and expects to complete the project by 2014. “We expect to roll out 300 residential apartments and notch sales of about Rs 5,000 crore from the project,” said Mr Lodha.

Once complete, the 117-storey tower will be close to half-a-km tall, dwarfing the present tallest residential tower, Queensland Number One, in Australia that has a height of 323 meter. Christened as World One, the tower will be higher than some of the iconic global landmarks including Sears Tower in Chicago, Jin Mao Building in Shanghai and The Empire State Building in New Work.

“It is not about the tallest tower, but we are looking at providing our customers a great experience to live in,” said Mr Lodha.

The tower will come up on the 17-acre plot of the defunct Shrinivas Mill in Lower Parel, central Mumbai, which the Lodhas bought nearly five-years ago. It will house three and four BHKs, lavish villas with private pools and some super-luxurious duplex flats.

It will have over 5 acres of landscape area, including an 80,000 square feet sports club at a height of 175 feet above ground. It will also have an observatory at a height of 1,000 ft. Flats will carry a minimum price tag of Rs 7.5 crore.

The company has hired the services of New York-based architects Pei Cobb Freed and Partners, which has completed nearly 200 architectural marvels across the globe, including Louvre Pyramid in Paris, Bank of China Tower in Hong Kong and John Hancock Tower in Boston.

“We can assure you that the building will have all the necessary safety measures in case of an emergency,” Jay Berman, partner at Pei Cobb and Freed told ET.

The company, which deferred its initial share sale last year, will launch an IPO once the market is stable, said Mr Lodha. Lodha can now ask for higher valuations due to its ownership on two iconic buildings, said owner of a real estate company who did not wish to be named.

Last month, the company bagged a 22.5-acre property in Mumbai after bidding Rs 4,050 crore in the country’s biggest land deal.


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